NGX All-Share Index hits biggest single-day gain in two years

Following the inauguration of the President-elect, the Lagos bourse reacted positively as the benchmark closed 5.23% stronger – the biggest single-day gain since 12 November 2020 – to settle at 55,745.74 points. Index heavyweights, MTNN (+7.53%), DANGCEM (+7.41%) and BUACEMENT (+4.55%) drove the market’s strong performance, alongside gains in Tier-1 banking names. As a result, the year-to-date (YTD) return rose to 8.77%, with the market capitalization up by ₦1.51trn to close at ₦30.35trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 106.07%. A total of 1.08bn shares valued at ₦15.80bn were exchanged in 9,916 deals. ACCESSCORP (+8.33%) led the volume and value charts with 199.62m units traded in deals worth ₦2.45bn.

Market breadth closed positive at a 14.50-to-1 ratio with advancing issues outnumbering declining ones. ZENITHBANK (+10.00%) led fifty-seven (57) others on the leader’s log while AIICO (-1.61%) topped three (3) others on the laggard’s table.

Find below key highlights of market activities

Dividend Information for 2023